A U.S. House panel on Friday looked into whether the Federal Communications Commission followed its own rules when it gave Phil Falcone 's LightSquared approval for a wireless network in early 2011, a decision that has since been put on hold over global-positioning systems concerns, Dow Jones Daily Bankruptcy Review reported yesterday. At a key moment for LightSquared, which has been in bankruptcy since May, the House Subcommittee on Oversight and Investigations questioned an FCC bureau chief about whether the commission "rushed through" a process that led to an initial approval for LightSquared to use wireless spectrum. That decision is now in limbo because of concerns over whether the network interferes with global positioning systems.
